First Horizon Advisors Inc. Purchases 26 Shares of Spotify Technology S.A. (NYSE:SPOT)

First Horizon Advisors Inc. grew its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 504 shares of the company’s stock after purchasing an additional 26 shares during the quarter. First Horizon Advisors Inc.’s holdings in Spotify Technology were worth $225,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Callan Capital LLC acquired a new stake in Spotify Technology during the 4th quarter worth approximately $245,000. Carl P. Sherr & Co. LLC bought a new position in shares of Spotify Technology during the fourth quarter valued at $1,157,000. Allianz Asset Management GmbH lifted its holdings in shares of Spotify Technology by 13.9% during the fourth quarter. Allianz Asset Management GmbH now owns 156,581 shares of the company’s stock worth $70,051,000 after purchasing an additional 19,152 shares during the period. FDx Advisors Inc. lifted its holdings in shares of Spotify Technology by 6.7% during the fourth quarter. FDx Advisors Inc. now owns 1,884 shares of the company’s stock worth $843,000 after purchasing an additional 118 shares during the period. Finally, Prakash Investment Advisors LLC bought a new stake in shares of Spotify Technology in the fourth quarter worth $2,953,000. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Guggenheim reaffirmed a “buy” rating and set a $675.00 target price on shares of Spotify Technology in a report on Monday. Phillip Securities restated an “accumulate” rating and set a $485.00 price objective (up from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. TD Cowen upped their target price on Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a report on Wednesday, November 13th. Bank of America raised their price target on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Benchmark boosted their price target on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $529.43.

Spotify Technology Trading Down 2.3 %

Spotify Technology stock opened at $588.06 on Wednesday. The firm has a market capitalization of $117.06 billion, a price-to-earnings ratio of 98.83 and a beta of 1.63. The firm’s fifty day moving average price is $528.15 and its two-hundred day moving average price is $440.89. Spotify Technology S.A. has a 1-year low of $249.38 and a 1-year high of $652.63.

About Spotify Technology

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.